New Super Airport Would Cost $1.4b, Agency Says

Critics Say Projection Doesn't Include Infrastructure Costs

May 17, 2001|By PETER DUJARDIN Daily Press

Building a large airport on a five-square-mile piece of land south of the James River would cost about $1.4 billion in today's dollars, state aviation officials told the Hampton Roads Planning District Commission on Wednesday.

State officials identified probable sources for most of the money but pointed out a shortfall of about $282 million that those building the airport would have to raise.

"It will take a statesman, a visionary, to make this happen," said Ken Wiegand, the executive director of the Department of Aviation.

State officials estimated that if the new airport were built, the "sponsor" -- the group or city or county that's building it -- could probably get $422 million from the Federal Aviation Administration, $145 million from passenger fees at the airport, $114 million in state funding and $20 million from other sources.

That would leave about $725 million to be borne by the sponsor.

The sponsor could secure about $443 million through a portion of expected revenue the airport could generate during its first 30 years of operation, state aviation officials said. But raising the rest, or $282 million, would require some "creative" approaches, those officials said.

They suggested a "public-private" partnership, which would have companies and government groups kicking in some of the money. Cities around Hampton Roads, they suggested, might agree to pay the sponsor some of the money.

Opponents pointed out that the $1.4 billion cost didn't take into account such things as another crossing over the James River that would allow people to get to the airport.

The cost projections do, however, include what the new airport would need to spend to bail out Norfolk International Airport and Newport News-Williamsburg International Airport. The state officials said those airports probably would fall behind on their debt payments if a new airport was built south of the James.

Peter Dujardin can be reached at 247-4749 or by email at pdujardin@dailypress.com